VIJAYAWADA: YSR Congress state joint secretary Karumuri Venkata Reddy has refuted the allegations of opposition parties regarding investment proposals made at the Global Investors Summit-2023 in Vizag on March 3 and 4.
He said chief minister Jagan Mohan Reddy has initiated steps to materialise the investment proposals and recalled that, on the other hand, a majority of the MoUs signed during Chandrababu Naidu’s rule failed to materialize.
Venkata Reddy claimed that in the five years of the Chandrababu Naidu government, the then TD government has organised huge shows in the name of several industrial policies, partnership conferences and foreign tours to attract investment. “Under these, more than 22 industrial policies had been announced simultaneously. Similarly, for three consecutive years -- in 2016, 2017 and 2018 -- joint conferences had been organised by the AP government with the confederation of Indian Industries (CII) at Vizag, but there was no use.”
Venkata Reddy recalled that during the TD term, investments of ₹ 15.48 lakh crore had been claimed by Naidu through a total of 2,622 agreements, but the actual amount received was only ₹ 32,803 crore.
He also recalled that the department for the promotion of industry and internal trade (DIPP) had exposed the inconsistency in Chandrababu's campaign about “lakhs of crores of investment.” The DIPP statistics made it clear that only 293 projects worth ₹ 32,803 crores had been implemented under these agreements in the five years of the TD government.
